Clearlake Capital Group LP said June 19 that it completed its previously announced buy of Dude Solutions. Waburg Pincus was the seller.
CLEARLAKE CAPITAL COMPLETES THE ACQUISITION OF DUDE SOLUTIONS
New buy and build platform investment in the SaaS leader for operations management
SANTA MONICA, CA and CARY, NC – June 19, 2019 – Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”), announced that it has completed the acquisition of Dude Solutions, Inc. (“Dude Solutions” or the “Company”), the leading software-as-a-service (“SaaS”) provider of operations management solutions, from Warburg Pincus. The Company will continue to be led by Chief Executive Officer, Ed Roshitsh and the current management team, who are investing alongside Clearlake in the transaction.
Dude Solutions is a market leading provider of cloud-based operations management software that automates mission-critical enterprise asset management workflows such as work order, inventory, energy, capital planning, facility scheduling, and community development. Dude Solutions provides an end-to-end SaaS solution for its over 12,000 clients in the education, government, healthcare and manufacturing verticals.
“We are thrilled to partner with Clearlake to support the next phase of growth at Dude Solutions,” said Mr. Roshitsh. “Clearlake’s extensive software investment experience will prove invaluable to Dude Solutions in this exciting new chapter. With Clearlake’s operational support and financial backing, we are in a great position to build on our record as the leading cloud-based operations management software provider.”
“We are impressed by Dude Solutions’ market-leading franchise and we are excited to partner with Ed and the team to accelerate growth both organically and through acquisition,” said Behdad Eghbali, Co-Founder and Managing Partner, and Prashant Mehrotra, Partner, of Clearlake. “We look forward to supporting the Company through significant additional investment in the product portfolio and the go-to-market teams while also leveraging Clearlake’s O.P.S.® framework to continue to deliver best-in-class solutions to its customers.”
Shea & Co. served as financial advisor to Clearlake. William Blair & Company served as financial advisor to Dude Solutions and Warburg Pincus. Willkie Farr & Gallagher LLP served as legal advisor to Dude Solutions and Warburg Pincus. Financing for the transaction was led by Monroe Capital acting as sole lead arranger and administrative agent with participation from BlackRock, Owl Rock, and Vista Credit.
Clearlake Capital Group, L.P. is a leading private investment firm founded in 2006. With a sector-focused approach, the firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are software and technology-enabled services; industrials and energy; and consumer. Clearlake has managed over $9 billion of institutional capital since inception and its senior investment principals have led or co-led over 100 investments. More information is available at www.clearlake.com.
About Dude Solutions
Dude Solutions is a leading software-as-a-service (SaaS) provider of operations management solutions to education, government, healthcare, senior living, manufacturing and membership-based organizations. For nearly two decades, Dude Solutions has inspired clients to create better work and better lives. We combine innovative, user-friendly technology with the world’s smartest operations engine, empowering operations leaders to transform the most important places in our lives. Today, more than 12,000 organizations use our award-winning software to manage maintenance, assets, energy, safety, IT, events and more. For more information, visit dudesolutions.com.
About Warburg Pincus
Warburg Pincus LLC is a leading global private equity firm focused on growth investing. The firm has more than $58 billion in private equity assets under management. The firm’s active portfolio of more than 180 companies is highly diversified by stage, sector and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 18 private equity funds, which have invested more than $74 billion in over 860 companies in more than 40 countries. The firm is headquartered in New York with offices in Amsterdam, Beijing, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai and Singapore. For more information please visitwww.warburgpincus.com.